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2015-06-25 19:10:00

GAS WITHOUT DISCOUNT

GAS WITHOUT DISCOUNT

President Vladimir Putin said on Wednesday Russia could not provide Ukraine with the gas price discount it once had, days before new gas talks between Russia, Ukraine and the European Union.

"It is obvious that given such a serious fall in oil prices and, as a result, gas prices, we can not provide the same discount as earlier," Putin told a government meeting.

"The price for Ukrainian customers should be... in line with nearby countries like Poland."

Gazprom Export, the export arm of state gas producer Gazprom, which supplied Poland with 9 billion cubic metres of gas last year compared to 14.5 bcm shipped to Ukraine, declined to disclose the price Warsaw pays.

Gazprom has said Ukraine will be charged $287 per 1,000 cubic metres with no discount in the third quarter. This compares to the $247 charged in the second quarter, including a discount of $100 per 1,000 cubic metres.

Russia, Ukraine and the European Commission have been discussing the terms for Russian gas supplies to Kiev after a short-term agreement expires at the end of this month.

Talks with Russia on a planned gas package for Ukraine for next winter are set to take place in "coming days", European Commission Vice President Maros Sefcovic said on Wednesday.

reuters.com

Tags: RUSSIA, GAS, PRICE

Chronicle:

GAS WITHOUT DISCOUNT
2018, June, 18, 14:00:00

U.S. IS BETTER

IMF - Within the next few years, the U.S. economy is expected to enter its longest expansion in recorded history. The Tax Cuts and Jobs Act and the approved increase in spending are providing a significant boost to the economy. We forecast growth of close to 3 percent this year but falling from that level over the medium-term. In my discussions with Secretary Mnuchin he was clear that he regards our medium-term outlook as too pessimistic. Frankly, I hope he is right. That would be good for both the U.S. and the world economy.

GAS WITHOUT DISCOUNT
2018, June, 18, 13:55:00

U.S. ECONOMY UP

IMF - The near-term outlook for the U.S. economy is one of strong growth and job creation. Unemployment is already near levels not seen since the late 1960s and growth is set to accelerate, aided by a near-term fiscal stimulus, a welcome recovery of private investment, and supportive financial conditions. These positive outturns have supported, and been reinforced by, a favorable external environment with a broad-based pick up in global activity. Next year, the U.S. economy is expected to mark the longest expansion in its recorded history. The balance of evidence suggests that the U.S. economy is beyond full employment.

GAS WITHOUT DISCOUNT
2018, June, 18, 13:50:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

U.S. FRB - Industrial production edged down 0.1 percent in May after rising 0.9 percent in April. Manufacturing production fell 0.7 percent in May, largely because truck assemblies were disrupted by a major fire at a parts supplier. Excluding motor vehicles and parts, factory output moved down 0.2 percent. The index for mining rose 1.8 percent, its fourth consecutive month of growth; the output of utilities moved up 1.1 percent. At 107.3 percent of its 2012 average, total industrial production was 3.5 percent higher in May than it was a year earlier. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to 77.9 percent, a rate that is 1.9 percentage points below its long-run (1972–2017) average.

GAS WITHOUT DISCOUNT
2018, June, 18, 13:45:00

SOUTH AFRICA: NO BENEFITS

IMF - South Africa’s potential is significant, yet growth over the past five years has not benefitted from the global recovery. The economy is globally positioned, sophisticated, and diversified, and several sectors—agribusiness, mining, manufacturing, and services—have capacity for expansion. Combined with strong institutions and a young workforce, opportunities are vast. However, several constraints have held growth back. Policy uncertainty and a regulatory environment not conducive to private investment have resulted in GDP growth rates that have not kept up with those of population growth, reducing income per capita, and hurting disproportionately the poor.

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